Associated British Foods’ (ABF) “Buy” Rating Reaffirmed at Shore Capital

Shore Capital reaffirmed their buy rating on shares of Associated British Foods (LON:ABFGet Rating) in a research note released on Wednesday, MarketBeat.com reports.

ABF has been the subject of a number of other reports. Royal Bank of Canada restated a sector perform rating and set a GBX 1,850 ($22.35) price target on shares of Associated British Foods in a report on Monday, May 30th. Deutsche Bank Aktiengesellschaft lowered their price target on Associated British Foods from GBX 1,850 ($22.35) to GBX 1,575 ($19.03) and set a hold rating on the stock in a research note on Monday, September 12th. JPMorgan Chase & Co. reduced their price objective on Associated British Foods from GBX 1,900 ($22.96) to GBX 1,630 ($19.70) and set a neutral rating for the company in a research report on Friday, September 9th. Jefferies Financial Group cut Associated British Foods to a hold rating and lowered their price objective for the company from GBX 2,000 ($24.17) to GBX 1,500 ($18.12) in a research report on Tuesday, September 6th. Finally, Barclays restated an equal weight rating and set a GBX 1,500 ($18.12) price objective on shares of Associated British Foods in a research report on Friday, September 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Associated British Foods has an average rating of Hold and an average target price of GBX 1,875 ($22.66).

Associated British Foods Trading Up 0.4 %

Associated British Foods stock opened at GBX 1,328.50 ($16.05) on Wednesday. The company has a debt-to-equity ratio of 37.25, a current ratio of 1.99 and a quick ratio of 1.15. The company has a market capitalization of £10.52 billion and a price-to-earnings ratio of 1,326.00. Associated British Foods has a one year low of GBX 1,288 ($15.56) and a one year high of GBX 2,181 ($26.35). The company’s fifty day moving average price is GBX 1,556.04 and its two-hundred day moving average price is GBX 1,615.34.

Insiders Place Their Bets

In other Associated British Foods news, insider Wolfhart Hauser purchased 3,243 shares of the stock in a transaction on Tuesday, July 5th. The stock was bought at an average cost of GBX 1,534 ($18.54) per share, for a total transaction of £49,747.62 ($60,110.71).

About Associated British Foods

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Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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Analyst Recommendations for Associated British Foods (LON:ABF)

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